And now for the weather…
For the past decade, some pension schemes have based their entire risk management strategy on equally dubious long-term market forecasts – with catastrophic consequences, writes Redington’s Dawid Konotey-Ahulu for Pensions Expert. Unsurprisingly, like those who attempt to predict the actual weather two years in advance, investment consultants playing this game of ‘And Now For The Weather!’ tend not to be particularly accurate.